Stock Analysis on Net
Stock Analysis on Net

United States Steel Corp. (NYSE:X)

This company has been moved to the archive! The financial data has not been updated since July 28, 2023.

Common Stock Valuation Ratios (Price Multiples) 
Quarterly Data

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Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).

Historical Valuation Ratios (Summary)

United States Steel Corp., historical price multiples (quarterly data)

Microsoft Excel
Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Price to earnings (P/E) 4.10 2.81 2.70 1.41 1.14 1.60 1.48 2.26 7.79 — — — — — — 3.57 2.25 2.53 3.56 — — —
Price to operating profit (P/OP) 3.57 2.32 2.15 1.16 0.96 1.41 1.25 1.86 5.54 — — — — — — 4.89 2.48 2.65 3.53 — — —
Price to sales (P/S) 0.29 0.26 0.32 0.21 0.24 0.36 0.30 0.41 0.53 0.58 0.44 0.21 0.14 0.10 0.12 0.16 0.16 0.20 0.28 — — —
Price to book value (P/BV) 0.51 0.50 0.67 0.46 0.55 0.82 0.69 0.90 1.22 1.34 1.14 0.62 0.41 0.34 0.37 0.53 0.53 0.69 0.94 1.26 1.58 1.66

Based on: 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. United States Steel Corp. P/E ratio increased from Q4 2022 to Q1 2023 and from Q1 2023 to Q2 2023.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. United States Steel Corp. P/OP ratio increased from Q4 2022 to Q1 2023 and from Q1 2023 to Q2 2023.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. United States Steel Corp. P/S ratio decreased from Q4 2022 to Q1 2023 but then slightly increased from Q1 2023 to Q2 2023.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. United States Steel Corp. P/BV ratio decreased from Q4 2022 to Q1 2023 but then slightly increased from Q1 2023 to Q2 2023.

Price to Earnings (P/E)

United States Steel Corp., historical P/E calculation (quarterly data)

Microsoft Excel
Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
No. shares of common stock outstanding1 222,963,794 226,455,114 226,603,781 234,268,944 237,226,996 260,634,961 260,930,638 270,232,763 270,128,597 269,661,330 262,471,855 220,404,216 220,400,813 170,375,833 170,047,076 170,037,954 170,743,333 172,391,637 173,222,678 177,268,638 177,223,476 176,794,374
Selected Financial Data (US$)
Net earnings (loss) attributable to United States Steel Corporation (in millions) 477 199 174 490 978 882 1,069 2,002 1,012 91 49 (234) (589) (391) (668) (84) 68 54 592 291 214 18
Earnings per share (EPS)2 6.01 8.13 11.14 14.59 20.79 19.05 16.00 11.67 3.40 -2.53 -4.44 -8.54 -7.86 -6.31 -3.70 3.71 5.89 6.68 6.44 0.00 0.00 0.00
Share price1, 3 24.67 22.88 30.05 20.51 23.65 30.49 23.68 26.39 26.48 23.01 16.50 9.66 6.66 7.51 8.79 13.21 13.27 16.88 22.92 27.97 32.13 32.37
Valuation Ratio
P/E ratio4 4.10 2.81 2.70 1.41 1.14 1.60 1.48 2.26 7.79 — — — — — — 3.57 2.25 2.53 3.56 — — —
Benchmarks
P/E Ratio, Competitors5
Freeport-McMoRan Inc. 29.29 19.39 17.45 12.97 8.88 11.23 14.75 13.92 18.54 33.67 80.11 — — — — — — — — — — —

Based on: 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Data adjusted for splits and stock dividends.

2 Q2 2023 Calculation
EPS = (Net earnings (loss) attributable to United States Steel CorporationQ2 2023 + Net earnings (loss) attributable to United States Steel CorporationQ1 2023 + Net earnings (loss) attributable to United States Steel CorporationQ4 2022 + Net earnings (loss) attributable to United States Steel CorporationQ3 2022) ÷ No. shares of common stock outstanding
= (477,000,000 + 199,000,000 + 174,000,000 + 490,000,000) ÷ 222,963,794 = 6.01

3 Closing price as at the filing date of United States Steel Corp. Quarterly or Annual Report.

4 Q2 2023 Calculation
P/E ratio = Share price ÷ EPS
= 24.67 ÷ 6.01 = 4.10

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. United States Steel Corp. P/E ratio increased from Q4 2022 to Q1 2023 and from Q1 2023 to Q2 2023.

Price to Operating Profit (P/OP)

United States Steel Corp., historical P/OP calculation (quarterly data)

Microsoft Excel
Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
No. shares of common stock outstanding1 222,963,794 226,455,114 226,603,781 234,268,944 237,226,996 260,634,961 260,930,638 270,232,763 270,128,597 269,661,330 262,471,855 220,404,216 220,400,813 170,375,833 170,047,076 170,037,954 170,743,333 172,391,637 173,222,678 177,268,638 177,223,476 176,794,374
Selected Financial Data (US$)
Earnings (loss) before interest and income taxes (in millions) 564 189 174 614 1,254 1,118 1,145 2,342 1,034 425 43 (211) (532) (375) (376) (80) 115 111 313 373 301 137
Operating profit per share2 6.91 9.85 13.95 17.63 24.70 21.64 18.96 14.22 4.78 -1.02 -4.10 -6.78 -6.18 -4.20 -1.35 2.70 5.34 6.37 6.49 0.00 0.00 0.00
Share price1, 3 24.67 22.88 30.05 20.51 23.65 30.49 23.68 26.39 26.48 23.01 16.50 9.66 6.66 7.51 8.79 13.21 13.27 16.88 22.92 27.97 32.13 32.37
Valuation Ratio
P/OP ratio4 3.57 2.32 2.15 1.16 0.96 1.41 1.25 1.86 5.54 — — — — — — 4.89 2.48 2.65 3.53 — — —
Benchmarks
P/OP Ratio, Competitors5
Freeport-McMoRan Inc. 11.22 8.66 8.60 6.44 4.65 5.96 7.59 7.00 8.51 13.71 19.69 18.48 34.65 43.85 16.28 — — — — — — —

Based on: 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Data adjusted for splits and stock dividends.

2 Q2 2023 Calculation
Operating profit per share = (Earnings (loss) before interest and income taxesQ2 2023 + Earnings (loss) before interest and income taxesQ1 2023 + Earnings (loss) before interest and income taxesQ4 2022 + Earnings (loss) before interest and income taxesQ3 2022) ÷ No. shares of common stock outstanding
= (564,000,000 + 189,000,000 + 174,000,000 + 614,000,000) ÷ 222,963,794 = 6.91

3 Closing price as at the filing date of United States Steel Corp. Quarterly or Annual Report.

4 Q2 2023 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 24.67 ÷ 6.91 = 3.57

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. United States Steel Corp. P/OP ratio increased from Q4 2022 to Q1 2023 and from Q1 2023 to Q2 2023.

Price to Sales (P/S)

United States Steel Corp., historical P/S calculation (quarterly data)

Microsoft Excel
Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
No. shares of common stock outstanding1 222,963,794 226,455,114 226,603,781 234,268,944 237,226,996 260,634,961 260,930,638 270,232,763 270,128,597 269,661,330 262,471,855 220,404,216 220,400,813 170,375,833 170,047,076 170,037,954 170,743,333 172,391,637 173,222,678 177,268,638 177,223,476 176,794,374
Selected Financial Data (US$)
Net sales (in millions) 5,008 4,470 4,338 5,203 6,290 5,234 5,622 5,964 5,025 3,664 2,562 2,340 2,091 2,748 2,824 3,069 3,545 3,499 3,691 3,729 3,609 3,149
Sales per share2 85.30 89.65 92.96 95.40 97.42 83.81 77.70 63.70 50.31 39.52 37.11 45.38 48.69 71.52 76.08 81.18 84.71 84.27 81.85 0.00 0.00 0.00
Share price1, 3 24.67 22.88 30.05 20.51 23.65 30.49 23.68 26.39 26.48 23.01 16.50 9.66 6.66 7.51 8.79 13.21 13.27 16.88 22.92 27.97 32.13 32.37
Valuation Ratio
P/S ratio4 0.29 0.26 0.32 0.21 0.24 0.36 0.30 0.41 0.53 0.58 0.44 0.21 0.14 0.10 0.12 0.16 0.16 0.20 0.28 — — —
Benchmarks
P/S Ratio, Competitors5
Freeport-McMoRan Inc. 2.82 2.34 2.66 2.17 1.78 2.34 2.78 2.57 2.78 3.75 3.38 2.04 1.57 0.97 1.23 — — — — — — —

Based on: 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Data adjusted for splits and stock dividends.

2 Q2 2023 Calculation
Sales per share = (Net salesQ2 2023 + Net salesQ1 2023 + Net salesQ4 2022 + Net salesQ3 2022) ÷ No. shares of common stock outstanding
= (5,008,000,000 + 4,470,000,000 + 4,338,000,000 + 5,203,000,000) ÷ 222,963,794 = 85.30

3 Closing price as at the filing date of United States Steel Corp. Quarterly or Annual Report.

4 Q2 2023 Calculation
P/S ratio = Share price ÷ Sales per share
= 24.67 ÷ 85.30 = 0.29

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. United States Steel Corp. P/S ratio decreased from Q4 2022 to Q1 2023 but then slightly increased from Q1 2023 to Q2 2023.

Price to Book Value (P/BV)

United States Steel Corp., historical P/BV calculation (quarterly data)

Microsoft Excel
Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
No. shares of common stock outstanding1 222,963,794 226,455,114 226,603,781 234,268,944 237,226,996 260,634,961 260,930,638 270,232,763 270,128,597 269,661,330 262,471,855 220,404,216 220,400,813 170,375,833 170,047,076 170,037,954 170,743,333 172,391,637 173,222,678 177,268,638 177,223,476 176,794,374
Selected Financial Data (US$)
Total United States Steel Corporation stockholders’ equity (in millions) 10,725 10,302 10,218 10,437 10,198 9,698 9,010 7,916 5,851 4,627 3,786 3,449 3,617 3,725 4,092 4,199 4,311 4,235 4,202 3,941 3,605 3,438
Book value per share (BVPS)2 48.10 45.49 45.09 44.55 42.99 37.21 34.53 29.29 21.66 17.16 14.42 15.65 16.41 21.86 24.06 24.69 25.25 24.57 24.26 22.23 20.34 19.45
Share price1, 3 24.67 22.88 30.05 20.51 23.65 30.49 23.68 26.39 26.48 23.01 16.50 9.66 6.66 7.51 8.79 13.21 13.27 16.88 22.92 27.97 32.13 32.37
Valuation Ratio
P/BV ratio4 0.51 0.50 0.67 0.46 0.55 0.82 0.69 0.90 1.22 1.34 1.14 0.62 0.41 0.34 0.37 0.53 0.53 0.69 0.94 1.26 1.58 1.66
Benchmarks
P/BV Ratio, Competitors5
Freeport-McMoRan Inc. 3.81 3.14 3.89 3.36 2.91 3.86 4.54 4.07 4.38 5.57 4.72 3.01 2.26 1.47 1.91 1.63 1.52 1.70 — — — —

Based on: 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Data adjusted for splits and stock dividends.

2 Q2 2023 Calculation
BVPS = Total United States Steel Corporation stockholders’ equity ÷ No. shares of common stock outstanding
= 10,725,000,000 ÷ 222,963,794 = 48.10

3 Closing price as at the filing date of United States Steel Corp. Quarterly or Annual Report.

4 Q2 2023 Calculation
P/BV ratio = Share price ÷ BVPS
= 24.67 ÷ 48.10 = 0.51

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. United States Steel Corp. P/BV ratio decreased from Q4 2022 to Q1 2023 but then slightly increased from Q1 2023 to Q2 2023.